topic I own an SCorp. Am I a shareholder? Also I did not pay myself as the business is still not profiting enough. in Business & farm

I own an SCorp. Am I a shareholder? Also I did not pay myself as the business is still not profiting enough.

Tiffany-donofrio — Thu, 06 Jun 2019 09:12:01 GMT

I own a very small business. I am confused as to if I am a shareholder? I own the company 100% and just created an S corp. There is not anyone else involved. Do I need to list myself as a shareholder of the company? Also, I did not pay myself because there was not enough income. How do I report this? Lastly, next year, I will pay myself. Will I be a shareholder then?

Yes, you are a shareholder. You own 100% of the shares. I...

Fern — Thu, 06 Jun 2019 09:12:03 GMT

Yes, you are a shareholder. You own 100% of the shares. Include your information as shareholder. If you did not pay any wages, there is nothing that you have to specifically report.

Next year, when you pay yourself, you are still a shareholder. You will note that you paid someone who is more than a 5% owner. You can be both an employee and a shareholder.